Is Perth a Smart Investment Choice for 2024?

Find out why Perth is a city to invest in 2024 and what you need to choose for long term capital growth and high rental yield.

Perth property is approaching rising market just getting out of bottom of cycle.

Perth has recorded record high 18.3% increase in 1 year in property value (as of Feb 2024). Perth is obviously rising star in Australian property market.

Even though the market is already hot, due to extremely low supply with lowest vacancy rate 0.5%*, and still affordable housing price with very low taxes, we expect that Perth attract more investors and immigrants want to purchase their investment property or home to live. 

*https://www.corelogic.com.au/news-research/news/2023/vacancy-rates-reach-new-record-lows-despite-rental-growth-easing

Perth is extremely affordable property market

With population of 2.2million, house price in Perth is cheapest among all capital cities except for Darwin and Hobart. Even cheaper than Adelaide and Brisbane. There was huge downturn on Perth property market from 2014 peak to 2020 and the median price in Perth just recovered to previous peak level in 2022. With its current median price even lower than Adelaide and Brisbane, we believe Perth has more room to grow.

Extremely low supply drives Perth housing market even hotter.

Property pricing in Perth is expected to keep rising its value in 2024 due to extremely low supply. Gap between trend of new supply and population growth is the biggest ever. Which means there is no chance the supply trend is catching up with demand anytime soon.

This is a perfect opportunity for investors to snap up quality properties in a great location.

Perth is one of highest paid capital cities in Australia

Household in Perth is paid 20%* more than other major capital cities (except for Darwin & Canberra). Household income in Perth is higher than all capital cities Canberra and Darwin. Being the median house price is cheapest except for Darwin and Hobart, there is plenty of room for capita growth.

* Source : NATSEM, ABS